InsurTech Spotlight: ProNavigator

ProNavigator

Company: ProNavigator

Website: pronavigator.ai

Business Category: A technology provider of InsurTech tools to insurance practitioners

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: AI-powered Insurance Virtual Assistants

Area: Focused on streamlining communication for both Property & Casualty and Life & Health insurance

Business description:

ProNavigator is an insurance technology company that uses artificial intelligence to automate conversations across the insurance value chain and improve internal operational efficiencies. Born from the expectations of an on-demand economy, ProNavigator provides AI virtual assistants that understand the complex language of insurance to automatically handle up to 60% of high frequency, non-transactional conversations relating to sales, service, underwriting, and claims. By providing real-time assistance at all hours of the day, our customers see a 40% increase in leads captured on their website and an increased net-promoter score, resulting in more business written and higher retention.

ProNavigator’s internal, productivity-focused virtual assistant acts as an aide to employees by providing accurate information in seconds to eliminate the monotonous act of manually searching through documents or waiting on hold for an answer; augmenting employees so they can focus on more complex, higher-value tasks

What makes us an InsurTech:

Pronavigator delivers an AI-powered communication platform with two core product offerings that are built specifically for insurance:

  • Customer Service and Lead-Gen Chatbot that automates or semi-automates conversations and increases website leads by 40% to enhance the capabilities of current customer support teams in insurance companies and brokerages.
  • Internal Chatbot that conversationalizes your knowledge base to present instant and accurate answers to employees’ underwriting, policy, or procedure questions 一 on demand. Improving the consistency of, and ease of access to, information across your organization and, dare we say, removing the need for Ctrl-F.

Major features & technology used:

The core of our technology is in the area of Natural Language Processing (NLP) which is the ability to analyze and interpret a user’s input. By using NLP over traditional keyword matching, we are able to understand all of the different variations a particular question can be asked and automatically extract and label the key information from that phrase. This removes any friction and frustration from the user experience and is then able to answer their questions and guide them to a successful conclusion as efficiently as possible.

The power of ProNavigator is that our NLP models are built specifically for insurance and trained on hundreds of thousands of insurance-related conversations. Our platform has the ability to understand hundreds of insurance intents as well as recognize and extract key entities to provide the highest possible accuracy when it comes to understanding the language of insurance. What it doesn’t immediately recognize is then used to re-train the model for an ever-improving customer experience to further reduce the need for human intervention.

About ProNavigator

ProNavigator is a technology company that is 100% insurance-focused and provides a purpose-built AI-powered chatbot to deliver on-demand customer service for sales, service, underwriting, and claims. Leading P&C & Life insurance companies and brokerages are leveraging our pre-trained natural language understanding models to automate inquiries and provide a predictably great experience through both voice and chat. For more information, please visit pronavigator.ai.

Source: ProNavigator